Keeley Teton Advisors LLC Raises Stake in Veritex Holdings, Inc. $VBTX

Key Points

• Keeley Teton Advisors LLC increased its holdings in Veritex Holdings, Inc. by 36.4%, now owning 65,566 shares valued at approximately $1.64 million.
• Veritex announced a quarterly dividend of $0.22 per share, resulting in an annualized yield of 2.6% and a payout ratio of 41.90%.
• Recent analyst reports show a consensus target price for Veritex at $33.25, with multiple analysts upgrading their ratings to "buy".

Keeley Teton Advisors LLC boosted its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 36.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,566 shares of the financial services provider's stock after buying an additional 17,493 shares during the period. Keeley Teton Advisors LLC owned about 0.12% of Veritex worth $1,637,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of VBTX. Wells Fargo & Company MN increased its stake in shares of Veritex by 37.9% in the 4th quarter. Wells Fargo & Company MN now owns 34,758 shares of the financial services provider's stock valued at $944,000 after acquiring an additional 9,559 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Veritex by 6.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 53,767 shares of the financial services provider's stock worth $1,460,000 after purchasing an additional 3,112 shares in the last quarter. Barclays PLC lifted its position in shares of Veritex by 5.1% in the fourth quarter. Barclays PLC now owns 123,585 shares of the financial services provider's stock worth $3,356,000 after purchasing an additional 5,976 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Veritex by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider's stock valued at $76,149,000 after buying an additional 125,189 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Veritex by 3.7% during the fourth quarter. MetLife Investment Management LLC now owns 32,140 shares of the financial services provider's stock worth $873,000 after buying an additional 1,144 shares during the last quarter. Institutional investors and hedge funds own 88.31% of the company's stock.

Veritex Stock Down 0.0%

Veritex stock traded down $0.01 during midday trading on Friday, hitting $34.35. 457,923 shares of the stock were exchanged, compared to its average volume of 722,118. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 16.36 and a beta of 1.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. Veritex Holdings, Inc. has a 52-week low of $20.37 and a 52-week high of $34.56. The business's 50-day moving average price is $30.62 and its 200-day moving average price is $26.39.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. Veritex had a net margin of 14.83% and a return on equity of 7.55%. The company had revenue of $109.83 million for the quarter, compared to analyst estimates of $110.91 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, research analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, August 7th. Veritex's dividend payout ratio (DPR) is currently 41.90%.

Analyst Upgrades and Downgrades

Several analysts recently commented on VBTX shares. William Blair raised shares of Veritex to an "outperform" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods lifted their target price on shares of Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group started coverage on shares of Veritex in a report on Monday, July 14th. They set a "buy" rating for the company. DA Davidson lifted their target price on shares of Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $34.00 target price (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Veritex presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

Insider Buying and Selling at Veritex

In other Veritex news, EVP Angela Harper sold 47,716 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $32.37, for a total transaction of $1,544,566.92. Following the completion of the sale, the executive vice president directly owned 59,683 shares in the company, valued at approximately $1,931,938.71. This trade represents a 44.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fallon William sold 7,220 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $30.68, for a total transaction of $221,509.60. Following the sale, the director owned 14,191 shares of the company's stock, valued at approximately $435,379.88. This represents a 33.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,699 shares of company stock worth $10,361,627 in the last 90 days. Insiders own 4.30% of the company's stock.

Veritex Profile

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.